Well, well, well. The MPEG-LA is showing its true colours. After a decade of threatening to patent troll the living heck out of Theora, the company led by a patent troll has now finally put its money where its mouth is. Well, sort of. They don't actually have any patents yet, they're asking people to submit patents they believe are essential to the VP8 specification. Update: MPEG (so not the MPEG-LA) has announced its intent to develop a new video compression standard for the web which will be royalty-free. "The new standard is intended to achieve substantially better compression performance than that offered by MPEG-2 and possibly comparable to that offered by the AVC Baseline Profile. MPEG will issue a call for proposals on video compression technology at the end of its upcoming meeting in March 2011 that is expected to lead to a standard falling under ISO/IEC 'Type-1 licensing', i.e. intended to be 'royalty free'."

Yer. Probably what they would ideally want to do is stick a set of patents against VP8 so anyone using it will end up having to 'license' them through a bit of well worked FUD (worked for MP3), so making VP8 not free in practice. The MPEG-LA at least then gets a cut.